No effective waiver of the right to avoid the contract on the grounds of deceit in the D&O-insurance?

Monday, January 9, 2012 Veröffentlichungen

Article by Dr. Anja Mayer in Versicherungspraxis 1/2012

A D&O-insurer can avoid insurance contracts on the grounds of deceit upon contract conclusion. The successful avoidance causes the ineffectiveness of the insurance contract ab initio. Often, insurers waive their right to avoid by a clause within the insurance contract.

Following a recent decision of the Federal Court of Justice, such waiver clauses are ineffective. The article highlights reasons and consequences of the judgment.

 

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